Real estate investment startup Aperture plans to provide real estate investors a unique opportunity to own a fraction of the company’s assets through cryptocurrency.
Aperture began their initial coin offering for Property Coin last month. They claim that 100% of the net proceeds will be used by their experienced team to invest in properties and loans.
- Property Coins offers casual investors a way to own part of a professionally managed portfolio of real estate assets
- The value of the cryptocurrency will rise as Aperture reinvest profits from real estate assets
- Aperture co-CEO Andrew Jewett says Property Coin’s proposition is more straightforward than other ICOs
Aperture pitches Property Coin as an alternative to the highly volatile number one cryptocurrency Bitcoin, which itself is becoming increasingly popular in real estate transactions despite its price swings. The proceeds of the ICO will go towards growing Aperture’s business model, which involves using proprietary technology to find and invest in undervalued properties across U.S. metro areas.
Andrew Jewett, co-CEO of Aperture, said in a statement that Property Coin’s proposition is straightforward, unlike with other ICOs.
“One hundred percent of the net proceeds from sales of Property Coins will be used to invest in properties and loans identified by our proprietary software and our experienced team,” Jewett said. “Accordingly, Property Coin is designed to be 100 percent backed by real estate assets, giving each coin holder a fractional economic interest in the investments made by Aperture or its affiliates with the net proceeds realized from the sale of Property Coins.”
Property Coin is built on the Ethereum blockchain, which is the second largest cryptocurrency after Bitcoin. When the ICO kicks off on February 26, Property Coin will be sold at $50 per coin. Investors are required to purchase a minimum of $1,000 worth of coins.
View the original article at RealtyBizNews